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U.S. Bank Business Cash Rewards World Elite™ Mastercard® review

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Among lucrative features: no annual fee, a solid signup bonus, an intro purchase APR and strong cash back.

  • Get this card if you want an excellent cashback card — with no annual fee.
  • Pick something else if you want travel rewards or a larger signup bonus.
  • Apply with an excellent credit score of 740 or higher.

$500

Welcome offer

Up to 3%

Cash back

$0

Annual fee

0%

Intro purchase APR

for the first 15 billing cycles (then 11.99% to 22.99% variable)

Details

Product NameU.S. Bank Business Cash Rewards World Elite™ Mastercard®
Card typeMastercard
Annual fee$0
Purchase APR0% intro for the first 15 billing cycles (then 11.99% to 22.99% variable)
Balance transfer APR0% intro for the first 15 billing cycles (then 11.99% to 22.99% variable)
Balance transfer fee$5 or 3% of the transaction, whichever is greater
Cash advance rate23.99% variable
Cash advance fee$10 or 5% of the cash advance amount, whichever is greater
Penalty APR29.99% fixed
Foreign transaction fee3% of the transaction value
Interest free periodUp to 30 days
Late payment feeUp to $39
Returned payment fee$35
Additional cardholder fee$0
Rates & feesrates & fees

Expert review

Kevin Joey Chen

Review by


Kevin Joey Chen is a credit cards writer whose work and analysis have appeared on CNN, U.S. News & World Report, The Dallas Morning News, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order and expertly navigate the cutting-edge financial tools available -- including credit cards, apps and budgeting software.

Expert review

The U.S. Bank Business Cash Rewards World Elite™ Mastercard® is a $0-annual-fee business credit card. It offers 3% cash back on eligible purchases at gas stations, cell phone and service providers, and office supply stores, as well as 1% cash back on all other purchases.

You’ll find a good signup bonus — $500 cash back after you make $4,500 in purchases within the first 150 days of account opening. Additionally, you’ll find two more benefits that set the card apart from the competition: a healthy intro APR on purchases and balance transfers, as well as an annual bonus of 25% of the cashback you earn each previous card year.

Card benefits

  • Annual fee: $0.

    A $0 annual fee makes it easier to keep the U.S. Bank Business Cash Rewards World Elite™ Mastercard® card long term. Many business credit cards come with a $95 annual fee starting the second year, making this one a good option if you don’t want to pay for a card.

  • Signup bonus: $500 cash back.

    When you spend $4,500 on purchases in the first 150 days from account opening using any one card on your account, you’ll receive $500 cash back.

  • Intro APR: 0% intro APR on purchases and balance transfers for 15 billing cycles.

    You’ll receive a 0% intro APR on purchases and balance transfers for the first 15 billing cycles after opening your account. After that, your APR reverts to 11.99% to 22.99% variable. This is a solid intro APR for a business card.

  • Rewards: Up to 3% cash back.

    Earn 3% cash back on gas purchases of up to $200 and on cellular and office supply purchases. Considering you can earn unlimited cash back, this is a strong rewards rate. Plus, you’ll earn these rewards in a good mix of common business categories.

    On all other eligible purchases, you’ll earn 1% cash back.

  • 25% annual bonus.

    Each year after your card anniversary, you get a bonus worth 25% of your prior year’s cash back. The maximum bonus is $250.

    This perk significantly increases your cashback rate. If you spend a lot, it effectively boosts your 3% cashback rate to 3.75% and your 1% cashback rate to 1.25%.

  • Customized employee cards.

    Set spending limits by location, place and dollar amount. Further customize when payments are due for employee cards.

What to watch out for

  • Potentially high APR.

    Depending on your creditworthiness, you could receive an ongoing purchase and balance transfer APR as high as 22.99% variable.

  • Penalty APR.

    U.S. Bank may raise your purchase, balance transfer and cash advance APR up to 29.99% fixed after one late or returned payment or if you exceed your credit limit two times in 12 consecutive months. This rate applies until you make six consecutive minimum payments on time and don’t exceed your credit limit in that same period.

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Data indicated here is updated regularly
Name Product Rewards Purchase APR Annual fee
CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®
2x miles on American Airlines, gas stations and select business categories and 1x miles on all other purchases
15.99% to 24.99% variable
$0 intro annual fee for the first year ($99 thereafter)
70,000 AAdvantage® miles after making $4,000 in purchases in first 4 months of account opening.
Brex for Startups
7x points on rideshares, 4x on Brex Travel, 3x at restaurants, 2x on software subscriptions and 1x points on all other purchases
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The first corporate card for startups. No personal liability or security deposit needed, meaning your personal credit score won't be affected.
Brex for Ecommerce
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60-day interest-free financing for e-commerce businesses.
Universal Premium Mastercard®
3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network
27.24% variable
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Earn 3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network.
BP Business Solutions Mastercard®
Up to 6 cents per gallon on fuel and 3.5 cents per gallon on diesel depending on number of gallons purchased per month
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What should I know before I apply?

To apply for the U.S. Bank Business Cash Rewards World Elite™ Mastercard®, you must be:

  • At least 18 years old.

Information you’ll need

To complete the application, you’ll provide information about yourself and your business that includes:

  • Your name and contact information, including your email address and phone number.
  • Your Social Security number and date of birth.
  • Financial information like your annual income and ownership percentage of your business.
  • The name of your business, its mailing address and its phone number.
  • Your business type and business structure.
  • Your years in business, gross annual sales and expected monthly cash transactions.
  • Your federal tax ID.

How to apply for the U.S. Bank Business Cash Rewards World Elite™ Mastercard®

  1. Go to the provider's site and click Apply now. (see rates & fees).
  2. Complete the application with details like your name, address, annual income, Social Security number and business information.
  3. Review and submit your application.

What credit score do I need?

You’ll have a better chance of approval for the U.S. Bank Business Cash Rewards World Elite™ Mastercard® if you apply with an excellent credit score of 740 or higher. If you have a healthy business and excellent credit, your likelihood of approval is strong.

Here are a few other factors that might affect your odds of approval:

  • Hard pulls on your credit report. If you have several hard inquiries — or hard pulls — on your report, it could imply you’re having trouble managing your debt. U.S. Bank might think you’re desperate for credit and may be less likely to take you on as a customer.
  • Factors that tie into your credit score. Your credit utilization is a major factor U.S. Bank considers. The bank prefers a customer with low balances relative to their credit limit. Having many new card accounts may be a red flag too, as it could indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.

What size business is the U.S. Bank Business Cash Rewards World Elite™ Mastercard® good for?

The U.S. Bank Business Cash Rewards World Elite™ Mastercard® is an excellent choice for businesses of all sizes. It has no annual fee, so it’s accessible to small businesses with tight budgets. It also comes with helpful perks like a signup bonus and an intro purchase and transfer APR.

Most notably, the card offers great cash back in common business categories — and your rewards aren’t capped.

What do customers say about the U.S. Bank Business Cash Rewards World Elite™ Mastercard®?

U.S. Bank has been accredited with the Better Business Bureau since 1970 and earns an overall B rating. As of June 2018, however, 98% of its reviews are negative — and it has nearly 2,000 customer complaints. U.S. Bank customers in general complain of duplicitous customer service reps, issues disputing charges and inflexible company policies.

The company earns a Trustpilot score of 4.1 out of 10. Many negative reviews cite unhelpful customer service and unethical activities.

I got the card. Now what?

  • Make payments on time. Register an account on U.S. Bank’s website to pay your balance online. You can also enroll in autopay.
  • Avoid interest. Late and overlimit fees run as high as $39. Returned payments cost $35 each.
  • Contact customer service. For questions about your account, call the number on the back of your card. Or call 800-872-2657 to reach U.S. Bank’s general help line.

Bottom line

The U.S. Bank Business Cash Rewards World Elite™ Mastercard® is an excellent card, offering several features business owners love. Most notable is the unlimited cash back on eligible gas, cellular and office supply purchases, which are common business categories. And the 25% annual cashback bonus is a lucrative sweetener.

If you’re in the market for features better tailored to your company’s spending, consider other business rewards cards.

Frequently asked questions

Images: USBank.com

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